Ariel Lambrecht & Renato Freitas
99
Brazil’s first ride-hailing app and its first unicorn · São Paulo, Brazil
The founder
Ariel Lambrecht and Renato Freitas, together with a third co-founder, Paulo Veras, founded 99 (originally "99Táxis") in São Paulo in July 2012, building one of Brazil’s first ride-hailing apps and the country’s first startup to reach unicorn status.
How it was sold
Didi Chuxing announced its acquisition of 99 on January 3, 2018, paying $600 million for a controlling stake and investing a further $300 million into the company — raising its stake from 30% to 90% and valuing 99 above $1 billion. It was Didi’s first deal outside China, setting up a direct challenge to Uber in Latin America.
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In the news
Coverage of the 99 deal from independent outlets — read the original reporting, not just our summary.
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